Solved: I had rental property that I gave back to the bank, how is this reported?
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I had rental property that I gave back to the bank, how is this reported?

The property was 800 miles away and my daughter was managing it. She passed away and although I made trips there and did maintenance, with her gone and us getting close to retirement I wanted out. The simplest way  without losing  alot of money was to hire a lawyer and negotiate them taking possession. I am guessing selecting sold in 2017 isn't correct, so what is?

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Level 14

I had rental property that I gave back to the bank, how is this reported?

Mark Sold.  While you didn't dispose of the property in a "normal" sale, you did sell it to the bank.

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Level 14

I had rental property that I gave back to the bank, how is this reported?

Mark Sold.  While you didn't dispose of the property in a "normal" sale, you did sell it to the bank.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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